Its a cool enough idea but what's even more interesting is the extent that 2 behemoths of programming blogs being behind something like this will help it be a success.
Exactly. I'm sure Jeff and Joel are both fine programmers, but their audiences, SEO, brands, etc have to be much more valuable. Also, Atwood has shown he can cultivate a large community with his blog comments, and Spolsky has run a pretty good discussion community for years. I think this will turn out well.
(ha - totally unintentional switch from first names to last names)